Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3142022-01-01falseNo description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11651509 2022-01-01 2022-12-31 11651509 2020-11-01 2021-12-31 11651509 2022-12-31 11651509 2021-12-31 11651509 c:Director2 2022-01-01 2022-12-31 11651509 d:CurrentFinancialInstruments 2022-12-31 11651509 d:CurrentFinancialInstruments 2021-12-31 11651509 d:Non-currentFinancialInstruments 2022-12-31 11651509 d:Non-currentFinancialInstruments 2021-12-31 11651509 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11651509 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11651509 d:ShareCapital 2022-12-31 11651509 d:ShareCapital 2021-12-31 11651509 d:RetainedEarningsAccumulatedLosses 2022-12-31 11651509 d:RetainedEarningsAccumulatedLosses 2021-12-31 11651509 c:OrdinaryShareClass1 2022-01-01 2022-12-31 11651509 c:OrdinaryShareClass1 2022-12-31 11651509 c:OrdinaryShareClass1 2021-12-31 11651509 c:FRS102 2022-01-01 2022-12-31 11651509 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11651509 c:FullAccounts 2022-01-01 2022-12-31 11651509 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11651509 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11651509









SPENCER GROUP PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
SPENCER GROUP PROPERTIES LIMITED
REGISTERED NUMBER: 11651509

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
655,347
60,914

  
655,347
60,914

Current assets
  

Stocks
  
26,952,803
-

Debtors: amounts falling due after more than one year
 5 
1,660,305
-

Debtors: amounts falling due within one year
 5 
1,437,244
-

Cash at bank and in hand
 6 
1,966,829
-

  
32,017,181
-

Creditors: amounts falling due within one year
 7 
(10,817,207)
(63,786)

Net current assets/(liabilities)
  
 
 
21,199,974
 
 
(63,786)

Total assets less current liabilities
  
21,855,321
(2,872)

  

Net assets/(liabilities)
  
21,855,321
(2,872)


Capital and reserves
  

Called up share capital 
 8 
208
208

Profit and loss account
  
21,855,113
(3,080)

  
21,855,321
(2,872)


Page 1

 
SPENCER GROUP PROPERTIES LIMITED
REGISTERED NUMBER: 11651509
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Levy
Director

Date: 19 March 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SPENCER GROUP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Spencer Group Properties Limited is a limited liability company incorporated in England and Wales. The registered office is 101 New Cavendish street, 1st Floor South, London, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
SPENCER GROUP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Page 4

 
SPENCER GROUP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2022
100
60,814
60,914


Additions
363,716
230,717
594,433



At 31 December 2022
363,816
291,531
655,347





5.


Debtors

2022
2021
£
£

Due after more than one year

Other debtors
1,660,305
-

1,660,305
-


2022
2021
£
£

Due within one year

Other debtors
1,430,043
-

Prepayments and accrued income
7,201
-

1,437,244
-



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,966,829
-

1,966,829
-


Page 5

 
SPENCER GROUP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
10,432,500
-

Amounts owed to group undertakings
132,826
-

Corporation tax
113,071
-

Other creditors
130,810
62,786

Accruals and deferred income
8,000
1,000

10,817,207
63,786



8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



208 (2021 - 208) Ordinary shares of £1.00 each
208
208


 
Page 6